Précis: The Grubner brothers claimed allowable business investment losses (ABILs) in 2012 in respect of $606,000 they had paid directly to CRA in connection with unremitted GST/HST and sources deductions of Bavara Auto Haus Inc. (“Bavara”), a corporation of which they were both directors. Justice Boyle held that there was no evidence that the Grubners acquired a debt or other obligation of Bavara for the purpose of earning income. As a result the two appeals were dismissed with costs.
Grubner v. R. – TCC: No ABILs for directors paying unremitted corporate GST/HST and source deductionsREAD MORE »